SHFE Nickel to Fluctuate at Highs (2017-7-31)

Published: Jul 31, 2017 09:38

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US Q2 GDP rebounded to 2.6%, but salary growth hit a 2-year low, leaving the US dollar weak.

SHANGHAI, Jul. 31 (SMM) – US Q2 GDP rebounded to 2.6%, but salary growth hit a 2-year low, leaving the US dollar weak. LME nickel will find solid support from USD 10,000/mt today, and SHFE 1709 nickel should hover between RMB 82,000-83,500/mt, with spot prices between RMB 82,000-84,400/mt. China’s official manufacturing and non-manufacturing PMI is due for release today.

nickel prices LME nickel prices SHFE nickel prices

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